Inheritance planning is a very important process that everybody with an estate should consider. It is important that your estate is passed on to your heirs in an orderly and tax efficient manner that reflects your will, with no risk of your wishes being challenged. The laws concerning inheritance, and the payment of taxes on wealth and goods left to beneficiaries, are complex and frequently changing.
The major concern of inheritance planning is to ensure that assets will be distributed according to your wishes. However, inheritance tax in most countries will definitely ensure that a percentage of any sizable estate passes to the government and not to your beneficiaries!
You can lessen the effect of this by creating company structures or trusts which can allow your assets to be passed directly to your heirs without being taxed by the government. Wealthy families have been using offshore companies and private trusts as part of their inheritance planning for decades to reduce their tax liability to the minimum.
If you have an estate which will need advanced inheritance planning, then Callamus’ experienced lawyers & financial advisors can help you.